What Is A Short Term Loan?

Short Term Loan

A short term loan is a loan that is offered for a short period of time. The period which they are given depends on the lending institution. Generally these types of loans can mature as early as 60 to 120 days.

Short term loans are ideal for borrowers that need small amount that they will be able to repay in short space of time. Terms offered by lending institution are not always the same so be sure to do enough research when looking for a short term loan to make sure you get the best deal.

Where can you obtain a short term loan? In South Africa most banks are registered credit providers and will give such loans. However, there are also other lending institutions that are not banks where you can obtain short term loans.

In South Africa some lenders will give a short term loan to individuals that are blacklisted.

How much you qualify for will depend on your individual credit record and affordability. Most applications will be subject to credit assessment.

Under this section we shall be covering all you need to know about short term loans and where you can apply for them including the documentation required.